Michael Giovannelli, with Spartan Capital Securities, Subject of FINRA Complaint
NEW YORK, NY – Have you lost money with financial advisor Michael J. Giovannelli of New York, New York? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Michael Giovannelli. FINRA alleged that Giovannelli made 12 unauthorized transactions in a senior customer’s account. FINRA also alleged that Giovannelli altered phone records in an attempt to conceal his conduct.
Michael Giovannelli was a financial advisor and registered representative of Spartan Capital Securities from July 2019 to July 2020. He worked at a branch office in New York, New York. Giovannelli has been the subject of 3 customer complaints and was discharged by Spartan Capital Securities.
Brokerage firms like Spartan Capital Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Phoenix, Arizona; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
If you lost money with Michael Giovannelli or Spartan Capital Securities, please CONTACT US at (720) 599-3505 or (206) 795-5798 for a free evaluation of your case.